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Truth and Honesty. Critical News, 26th April 2015

Posted by Business in Ghana on April 26, 2015

Sydney Casely-Hayford, sydney@bizghana.com

Last week the IMF released the program it has crafted between them and Ghana to bring policy credibility to Government’s Home Grown solutions. The only sound bite the media heard was the paragraph that spoke about job losses and freezing wages as a means to frontload the fiscal adjustments to achieve policy objectives.

I read it all with a huge smidgen of doubt.

Ghanaians know as we do, that this government is not going to do any of what it has signed to. The IMF knows that what it has written in the program notes to justify the figures to support our efforts is not true. And honestly, neither this government nor the IMF appreciates what problems we want solved in this economy.

If I may offer three steps, which if done will solve our issues immediately. First-first, fix the “dumsor”; find enough money to pay VRA, ECG, GRIDCO and other service providers what they are owed. No business runs on empty cash tanks. Second, fix the “dumsor”; find enough money to buy emergency power plants, because IT IS AN EMERGENCY! Then finally, fix the “dumsor”; provide enough incentives to make alternative energy solutions immediately attractive to domestic users. Then the “dumsor” will be gone and we will listen to other things.

This trinity points to one thing. Fix the “dumsor”. Read the rest of this entry »

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